PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454056
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1454056
Instant Soup Market Forecasts to 2030 - Global Analysis By Type (Liquid, Dry and Other Types), Nature, Source, Distribution Channel and By Geography
According to Stratistics MRC, the Global Instant Soup Market is accounted for $19.06 billion in 2023 and is expected to reach $28.09 billion by 2030 growing at a CAGR of 5.7% during the forecast period. Instant soup refers to dehydrated soup ingredients packaged in a convenient form for quick preparation. Typically sold as packets or cups, it often contains a powdered or dried base of broth or bouillon, along with dehydrated vegetables, noodles, and sometimes meat or seafood. Instant soup offers convenience and portability, making it a popular choice for quick meals or snacks, especially in situations where traditional cooking isn't feasible.
According to the Vegan Society Organization, 40% of people worldwide will eat conventional meat by 2040, 35% will eat clean-label meat, and 25% will eat vegan meat substitutes.
Market Dynamics:
Driver:
Health and wellness trends
As consumers increasingly prioritize healthier lifestyles, there is a growing demand for convenient yet nutritious food options, including instant soups. This includes reducing sodium content, eliminating artificial additives, and incorporating organic and natural ingredients. Moreover, there's a rising demand for plant-based and gluten-free instant soups to cater to specific dietary requirements, which is driving market growth.
Restraint:
High competition
With multiple brands vying for market share, price becomes a crucial factor in consumer decision-making. This can lead to price wars and thin profit margins, making it challenging for companies to maintain profitability while offering competitive pricing. Additionally, high competition drives the need for innovation and differentiation. Brand loyalty is another aspect affected by high competition, which is impeding this market further.
Opportunity:
Product innovation
Manufacturers continuously strive to introduce new and improved instant soup products to meet evolving consumer preferences and market demands. This innovation encompasses various aspects, including flavors, ingredients, packaging, and nutritional profiles. Furthermore, these innovations not only improve the consumer experience but also align with environmental sustainability goals, attracting environmentally conscious consumers and thereby propelling this market range.
Threat:
Limited expertise
Consumers may lack the expertise to enhance the flavors of instant soups through the addition of complementary ingredients or seasonings. Without this expertise, consumers may not fully appreciate the potential of instant soups or may be dissatisfied with the overall taste experience. Moreover, limited expertise may also lead to misconceptions about the versatility and potential uses of instant soups, which is hampering this market expansion.
Covid-19 Impact
The COVID-19 pandemic has brought about several negative impacts on the instant soup market. Disruptions in the global supply chain have led to challenges in sourcing ingredients, packaging materials, and distribution, resulting in potential shortages and higher production costs for manufacturers. Economic uncertainties and widespread job losses have constrained consumer spending. Moreover, the closure of foodservice establishments such as restaurants and cafes has reduced the demand for pre-packaged soups served in these outlets, further affecting the market.
The liquid segment is expected to be the largest during the forecast period
The liquid segment is estimated to hold the largest share due to a variety of options, ranging from traditional chicken noodle soups to exotic flavors like miso or tom yum. Consumers often prefer liquid instant soups for their convenience and perceived freshness, as they require minimal preparation-simply heating on a stovetop or in a microwave. Furthermore, manufacturers have introduced ethnic flavors and premium ingredients to cater to diverse tastes and preferences, which are driving this segment's expansion.
The plant-based segment is expected to have the highest CAGR during the forecast period
The plant-based segment is anticipated to have highest CAGR during the forecast period due to consumers seeking vegetarian, vegan, or plant-forward dietary options. These soups typically feature a variety of plant-based ingredients, such as vegetables, legumes, grains, and plant-based proteins like tofu or tempeh. Moreover, many plant-based instant soups are fortified with vitamins, minerals, and other nutrients to provide a nutritious and balanced meal option, which significantly boosts this segment's growth.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to an increasing demand for quick and convenient meal options, instant soups have become a popular choice for consumers across the continent. Countries such as the United States, Canada, and Mexico have led to the introduction of organic, non-GMO, and plant-based instant soups to meet the evolving preferences of health-conscious consumers. Additionally, technological advancements in packaging have enabled manufacturers to offer more convenient and environmentally friendly options, which are propelling this region's size.
Region with highest CAGR:
Europe is expected to witness highest CAGR over the projection period. European consumers increasingly value convenience without compromising on taste or quality. There is a growing demand for premium and gourmet instant soups in Europe, with consumers willing to pay a higher price for superior taste and quality. Furthermore, this has led to innovations such as reduced-sodium options, organic varieties, and soups made with natural ingredients, thereby gradually driving this region's growth.
Key players in the market
Some of the key players in the Instant Soup Market include The Kraft Heinz Company, Nissin Foods Holdings Co., Ltd., Campbell Soup Company, Nongshim Co., Ltd., Maruchan, Inc., Vedan International (Holdings) Limited, General Mills, Inc., Unilever, KOKA, Nestle, Nissin Foods Holdings Co., Ltd., Ottogi Corporation, Vifon and Batchelors.
Key Developments:
In December 2023, Unilever announced it has signed an agreement to acquire the premium biotech haircare brand K18. This marks another step in the optimisation of Unilever's portfolio towards higher growth areas.
In September 2023, Nestle has announced an agreement with Advent International to acquire a majority stake in Grupo CRM, a premium chocolate player in Brazil.
Types Covered:
- Liquid
- Dry
- Other Types
Nature Covered:
- Conventional
- Organic
Source Covered:
- Plant-Based
- Animal-Based
Distribution Channels Covered:
- Convenience Stores
- Online Retail
- Supermarkets/Hypermarkets
- Specialty Stores
- Foodservice/Hospitality
- Other Distribution Channels
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Instant Soup Market, By Type
- 5.1 Introduction
- 5.2 Liquid
- 5.3 Dry
- 5.4 Other Types
6 Global Instant Soup Market, By Nature
- 6.1 Introduction
- 6.2 Conventional
- 6.3 Organic
7 Global Instant Soup Market, By Source
- 7.1 Introduction
- 7.2 Plant-Based
- 7.3 Animal-Based
8 Global Instant Soup Market, By Distribution Channel
- 8.1 Introduction
- 8.2 Convenience Stores
- 8.3 Online Retail
- 8.4 Supermarkets/Hypermarkets
- 8.5 Specialty Stores
- 8.6 Foodservice/Hospitality
- 8.7 Other Distribution Channels
9 Global Instant Soup Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 The Kraft Heinz Company
- 11.2 Nissin Foods Holdings Co., Ltd.
- 11.3 Campbell Soup Company
- 11.4 Nongshim Co., Ltd.
- 11.5 Maruchan, Inc.
- 11.6 Vedan International (Holdings) Limited
- 11.7 General Mills, Inc.
- 11.8 Unilever
- 11.9 KOKA
- 11.10 Nestle
- 11.11 Nissin Foods Holdings Co., Ltd.
- 11.12 Ottogi Corporation
- 11.13 Vifon
- 11.14 Batchelors
List of Tables
- Table 1 Global Instant Soup Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 3 Global Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 4 Global Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 5 Global Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 6 Global Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 7 Global Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 8 Global Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 9 Global Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 10 Global Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 11 Global Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 12 Global Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 13 Global Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 14 Global Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 15 Global Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 16 Global Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 17 Global Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 18 Global Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 19 North America Instant Soup Market Outlook, By Country (2021-2030) ($MN)
- Table 20 North America Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 21 North America Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 22 North America Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 23 North America Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 24 North America Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 25 North America Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 26 North America Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 27 North America Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 28 North America Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 29 North America Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 30 North America Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 31 North America Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 32 North America Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 33 North America Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 34 North America Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 35 North America Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 36 North America Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 37 Europe Instant Soup Market Outlook, By Country (2021-2030) ($MN)
- Table 38 Europe Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 39 Europe Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 40 Europe Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 41 Europe Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 42 Europe Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 43 Europe Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 44 Europe Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 45 Europe Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 46 Europe Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 47 Europe Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 48 Europe Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 49 Europe Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 50 Europe Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 51 Europe Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 52 Europe Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 53 Europe Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 54 Europe Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 55 Asia Pacific Instant Soup Market Outlook, By Country (2021-2030) ($MN)
- Table 56 Asia Pacific Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 57 Asia Pacific Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 58 Asia Pacific Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 59 Asia Pacific Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 60 Asia Pacific Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 61 Asia Pacific Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 62 Asia Pacific Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 63 Asia Pacific Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 64 Asia Pacific Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 65 Asia Pacific Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 66 Asia Pacific Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 67 Asia Pacific Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 68 Asia Pacific Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 69 Asia Pacific Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 70 Asia Pacific Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 71 Asia Pacific Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 72 Asia Pacific Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 73 South America Instant Soup Market Outlook, By Country (2021-2030) ($MN)
- Table 74 South America Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 75 South America Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 76 South America Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 77 South America Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 78 South America Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 79 South America Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 80 South America Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 81 South America Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 82 South America Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 83 South America Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 84 South America Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 85 South America Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 86 South America Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 87 South America Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 88 South America Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 89 South America Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 90 South America Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
- Table 91 Middle East & Africa Instant Soup Market Outlook, By Country (2021-2030) ($MN)
- Table 92 Middle East & Africa Instant Soup Market Outlook, By Type (2021-2030) ($MN)
- Table 93 Middle East & Africa Instant Soup Market Outlook, By Liquid (2021-2030) ($MN)
- Table 94 Middle East & Africa Instant Soup Market Outlook, By Dry (2021-2030) ($MN)
- Table 95 Middle East & Africa Instant Soup Market Outlook, By Other Types (2021-2030) ($MN)
- Table 96 Middle East & Africa Instant Soup Market Outlook, By Nature (2021-2030) ($MN)
- Table 97 Middle East & Africa Instant Soup Market Outlook, By Conventional (2021-2030) ($MN)
- Table 98 Middle East & Africa Instant Soup Market Outlook, By Organic (2021-2030) ($MN)
- Table 99 Middle East & Africa Instant Soup Market Outlook, By Source (2021-2030) ($MN)
- Table 100 Middle East & Africa Instant Soup Market Outlook, By Plant-Based (2021-2030) ($MN)
- Table 101 Middle East & Africa Instant Soup Market Outlook, By Animal-Based (2021-2030) ($MN)
- Table 102 Middle East & Africa Instant Soup Market Outlook, By Distribution Channel (2021-2030) ($MN)
- Table 103 Middle East & Africa Instant Soup Market Outlook, By Convenience Stores (2021-2030) ($MN)
- Table 104 Middle East & Africa Instant Soup Market Outlook, By Online Retail (2021-2030) ($MN)
- Table 105 Middle East & Africa Instant Soup Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
- Table 106 Middle East & Africa Instant Soup Market Outlook, By Specialty Stores (2021-2030) ($MN)
- Table 107 Middle East & Africa Instant Soup Market Outlook, By Foodservice/Hospitality (2021-2030) ($MN)
- Table 108 Middle East & Africa Instant Soup Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
